Cut Wealth Transfer Taxes With This Handy Tool, Estate Planning for Aging Parents, How to Avert a Tax Surprise in Retirement

The Best Defense Against Financial Fear Is Planning | A Challenging Retirement Plan Mission: Not Impossible | Cut Your Wealth Transfer Taxes With This Handy Tool Created for {EMAIL} | [Web Version]( March 3, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Building Wealth]( [Youtube]( [Building Wealth]( [SIGN UP]( ⋅ [WEBSITE]( [] Financial Planning [] [The Best Defense Against Financial Fear Is Planning]( [The Best Defense Against Financial Fear Is Planning]( (Getty Images) Worried about job loss, health crises and other issues? According to financial planner Frank J. Legan, proactive planning, especially with a financial adviser's help, can [ease your anxiety about the future](. *Stay up to date with Kiplinger. Follow us on your preferred social media platform(s): [Facebook]( [X]( (Twitter) [Instagram]( [TikTok]( [] Retirement Planning [] [A Challenging Retirement Plan Mission: Not Impossible]( [A Challenging Retirement Plan Mission: Not Impossible]( (Getty Images) A reader makes a request of investment adviser Jerry Golden that at first appears not achievable, but with some maneuvering of the [retirement income plan building blocks](, his team finds it can work. [Vanguard vs. Fidelity vs. Schwab]( Who are you partnered with? See how these popular brokerage firms stack up when it comes to fees, resources, and specific services, so you can decide on the right fit for you. [Learn More]( ADVERTISEMENT [] Estate Planning [] [Cut Your Wealth Transfer Taxes With This Handy Tool]( [Cut Your Wealth Transfer Taxes With This Handy Tool]( (Getty Images) Attorney John M. Goralka explains how a [family limited partnership]( facilitates tax-efficient wealth transfer, asset protection, legacy preservation and more. He gives examples of how it works, too. [] Taxes [] [Avert a Tax Surprise in Retirement: Get Ready With a Roth]( Your taxes in retirement might not be lower, and you could be facing a looming tax bill because of required minimum distributions (RMDs). Financial adviser Andrew Drufke recommends heading that off with Roth conversions. [Read More]( [6 Myths About Social Security – Debunked]( Collecting Social Security benefits is an important component of any retirement income withdrawal strategy, but the federal program can also be complicated to understand. Get the facts on how the Social Security program works for retirees. [READ MORE]( ADVERTISEMENT [] Family Matters [] [Estate Planning for Your Aging Parents: A Delicate Balance]( Protecting assets isn't the only goal of estate planning. Justin Stivers, an estate planning attorney, points out that health care and taxes are also important issues, as is maintaining our parents' dignity and security. [Read More]( [Get the Most Out of Your Retirement Savings]( Making your savings last and keeping your taxes low takes planning and attention. We can help you save time and earn more. Vanguard Personal Advisor is built to provide you an ongoing collaboration with our professional advisors — no matter where you are in your journey. [LEARN MORE]( ADVERTISEMENT [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Last-minute tax savings guide for 2023]( April 15 is weeks away, so it's not too late to reduce your 2023 tax bill, improve retirement security and lower health care costs. [Financial planning careers are open for business]( Thanks in part to the Great Wealth Transfer, jobs in financial planning are expected to grow in the next decade. [Worker protections could undergo a change in 2024]( Some state legislatures are considering adopting a 'just cause' requirement, vs 'at will,' for when employees are let go. For the latest ways to earn 5% to 7% cash yield safely and reliably, plus 4 Model Portfolios to show you exactly where to put your money, bank on [Kiplinger Investing for Income]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter]( [The Kiplinger Tax Letter]( [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. 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